Month: March 2012

“Mandate relief remains elusive,” is one of the state-related headlines in today’s Albany Times Union — and that much, at least, is true. Unfortunately, the articlebeneath the headline repeats a familiar canard about the origins of the Triborough Amendment. Read More

State regulations to allow natural gas hydrofracking in New York’sdepressed Southern Tier region are being held up by Governor Cuomo, who says he wants more study of the health effects of fracking. Read More

“Cash-strapped New York has tentatively chosen the highest bidder to produce driver’s licenses under a disputed contract that would provide only black-and-white photos and end up costing the state nearly $38 million more than the current contract if it’s approved,” the AP reports. Read More

The prices of some previously high-flying stocks such as Apple recently have been plummeting, and the stock market has just suffered “its worst week of declines in five months,” the Wall Street Journal reports. This is not good news for savers and investors — but it may be causing sighs of relief in some corners of the state Capitol. Read More

There was virtually nothing new in Comptroller Thomas DiNapoli’s speech on public pensions in Washington, D.C., yesterday — nothing the comptroller hasn’t said before, as recently as a month ago. Read More

The proposed Tier 6 pension for a general employee of state and local government who retires at age 65 after 30 years of service would be 50 percent of final average salary. The Tier 5 pension at the same age and for the same career duration is 60 percent of final average salary. In other words, measured on this basis, the Tier 6 benefit will be 17 percent less than the Tier 5 benefit. Read More

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